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Land This Bargain 9.3% Yielder Even Cheaper Than CEO/Officer Of Advisor Levkowitz Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 11, TCP Capital Corp.'s CEO/Officer of Advisor, Howard Levkowitz, invested $23,234.50 into 1,499 shares of TCPC, for a cost per share of $15.50.

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 11, TCP Capital Corp.'s CEO/Officer of Advisor, Howard Levkowitz, invested $23,234.50 into 1,499 shares of TCPC, for a cost per share of $15.50. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Thursday, bargain hunters could buy shares of TCP Capital Corp. ( TCPC) and achieve a cost basis even cheaper than Levkowitz, with shares changing hands as low as $15.47 per share. It should be noted that Levkowitz has collected $0.36/share in dividends since the time of their purchase, so they are currently up 2.1% on their purchase from a total return basis. TCP Capital Corp. shares are currently trading up about 0.5% on the day. The chart below shows the one year performance of TCPC shares, versus its 200 day moving average:

Looking at the chart above, TCPC's low point in its 52 week range is $14.93 per share, with $18.55 as the 52 week high point — that compares with a last trade of $15.58. By comparison, below is a table showing the prices at which TCPC insider buying was recorded over the last six months:

Purchased

Insider

Title

Shares

Price/Share

Value

05/11/2015

Howard Levkowitz

CEO/Officer of Advisor

1,499

$15.50

$23,234.50

The current annualized dividend paid by TCP Capital Corp. is $1.44/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 06/12/2015. Below is a long-term dividend history chart for TCPC, which can be of good help in judging whether the most recent dividend with approx. 9.3% annualized yield is likely to continue.